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1403 Park Wind Drive Katy, TX 77450

3 Beds 2 Baths 1,577 sqft Built 1983

$180,999

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $114.77
  • 2 Days on Market
  • MLS # : 7930782
  • Updated Date : 01/23/2021 at 22:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,577 sqft
  • Baths : 2 full
Listing Agent

Midpoint Realtors

Listing Agent's Description

Nice family home in an established Memorial Parkway neighborhood. One-story with 3 bedrooms, 2 full baths. Formal living and dining areas with lots of natural light. The open floorplan has a nice flow throughout the home. No flooding and zoned to great school. Minutes away from Energy Corridor and entertainment for the whole family. Come check it out today!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Memorial Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Memorial Parkway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9442063

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Memorial Parkway Junior High School Primary Regular 878 54 8
Memorial Parkway Junior High School Middle Regular 878 54 8
Taylor High School High Regular 2,943 156 9

Memorial Parkway Junior High School

  • Education Level: Primary
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Memorial Parkway Junior High School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 156
9
GreatSchools Rating
 

$162,899$199,099$180,999

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$629
Property Tax -$403
Property Insurance -$134
HOA -$31
Property Management Fees -$99
CASH FLOW
$234

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$180,999

PROJECTED PRICE

$1,530

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,715

INVESTMENT

$53,715

Down Payment
$45,250
Rehab Estimate
$5,750
Closing Costs
$2,715

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$629

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,250
Loan Amount $135,749
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$18,112

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,530

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,518

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,5503$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1403 Park Wind Drive Katy, TX 1
    • 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,577 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.97
    •  
  • 21634 Park Bend Drive Katy, TX 2
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1983
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 1454 Country Park Drive Katy, TX 3
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 21707 Country Park Court Katy, TX 4
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 1985
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 21714 Park Brook Drive Katy, TX 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1981
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.00
    •  
PROPERTY LISTING DETAILS
Alejandro Rodriguez
1.713.248.5820
Midpoint Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7930782
Last Updated: 01/23/2021
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